Euro at very important level
Tatiana Norkina, FBS analyst
EUR/USD was again testing Friday's highs at the Asian session this morning. Let us remind you that the 1.3440-1.3460 range on the four-hour time frame contains a powerful resistance formed by the Ichimoku cloud upper border. Given the horizontal position of all Indicator lines, as well as the Chinkou line being in the zone of overboughtness, we can assume that today's trading will be held within the Ichimoku cloud.
In general, the major market trend is still downward as the cloud is bearish. The rate of the major Forex currecny pair is possible to decline to the Tenkan and Kijun lines, into the 1.1270 area.
Technical levels: support – 1.1270; resistance – 1.1340.
1. Sell — 1.1340; SL — 1.1360; TP1 — 1.1270; TP2 — 1.1250.